Tinubu hails capital market growth, meets NGX board, SEC DG in Brazil

By Kunle Sanni –

President Bola Tinubu has praised the rapid expansion of Nigeria’s capital market, citing rising market capitalization and trading volumes as evidence of growing investor confidence in his administration’s economic reforms.

Speaking in Brazil on Tuesday during a meeting with the Board of Directors of the Nigerian Exchange Group (NGX) Plc and the Director-General of the Securities and Exchange Commission (SEC), Tinubu said the market’s performance reflects the success of bold policy measures under the Renewed Hope Agenda.

“Nigeria’s markets must be a trusted engine of enterprise and prosperity. My government will continue to pursue reforms that unlock capital, protect investors, and drive innovation so that our economy works for every Nigerian,” the president said.

Tinubu reaffirmed his commitment to strengthening the financial ecosystem, pledging continued support for the capital market and promising additional reforms to sustain its expansion. He also welcomed an invitation to visit the NGX trading floor in Lagos to celebrate recent achievements.

SEC Director-General, Dr. Emomotimi Agama, described the newly signed Investment and Securities Act (ISA) 2025 as one of Africa’s most comprehensive capital market frameworks. He said the Act will position Nigeria to achieve a ₦300 trillion market while ensuring stronger investor protection and fair wealth distribution.

NGX Group Chairman, Alhaji Umaru Kwairanga, thanked the president for reforms that have nearly tripled trading activity and market value since the administration began. He urged the government to fast-track the listing of major state-owned enterprises, including NNPC Limited, and introduce tax incentives to sustain the momentum.

Temi Popoola, Group CEO of NGX, emphasized the need to deepen market innovation, expand retail participation through digital platforms, and position the Nigerian Exchange as a global investment hub.

Nonso Okpala, a director of NGX Group, credited exchange rate stability and macroeconomic predictability under the current administration as key drivers of market growth, encouraging more Nigerian businesses to list on the exchange to democratize wealth and broaden investment opportunities.